Helping a homeowner pay her mortgage and improve her credit
Stacy lost her job, and fell three months behind on her mortgage payment. She found a new job, but was still way behind. She had some equity in her home, so she called Action Loan. They were able to payoff her current mortgage, and some other debt. Stacy could afford the new payment, and because of Action Loan’s credit reporting, her credit score improved. After 18 months with Action Loan, Stacy was able to re-finance with a traditional bank. Stacy saved her home and equity because of Action Loan.

Helping a family use their home equity
Kim and Greg are empty nesters that want to make renovations to the home they have lived in for 20 years. They have home equity, but have had a few credit problems in the past that prevent them from getting a bank loan. They have income, so Action Loan was willing to make a second mortgage that paid for $25,000 worth of home improvements. After the renovations were complete, the home gained $45,000 in value. With the additional equity, Kim and Greg were able to consolidate the first and second mortgage into a new first mortgage at a lower rate.

Getting you the construction loan your company needs
Mark, a local developer, already owned 2 acres of land. Mark wanted to build 40 apartment units on the land. Even though he was using the land as collateral, the bank was not comfortable with the draw schedule for construction. Construction loans typically require above average credit and a considerable down payment. Gus and Martin Goldsmith have worked closely with many local contractors over the years. When they learned of the builder, they knew there would be no problems. They closed a construction loan with a draw schedule. An Action Loan representative visited the site during each phase of construction. Six months later, the apartments were built, tenants started moving in, and Mark was able to re-finance with a first mortgage on the entire property.

Making you a homeowner when others can’t
Brian has saved money and can pay a significant down payment on a home. He is self-employed and does not meet the credit requirements for a traditional bank mortgage. With a 20% down payment, Action Loan made a first mortgage on the purchase of a new home for Brian. After making payments to Action Loan for a year, Brian will able to re-finance with a traditional mortgage, and have significant equity in his home.

Helping local investors get a commercial loan
A local investor in retail outlets secured a contract to buy a strip center at a price that was well below market value. However, the contract was to expire in two weeks. It will take a bank much longer to order a commercial appraisal and present the loan to its committee. (The requirements for a loan this size.) Gus and Martin Goldsmith make Action Loan’s decisions directly, and they drove to the property the next day to see it. The value was evident, and the loan was closed in six days. The investor was able to renovate the property, lease all the space, and re-finance with his bank a year later.

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